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Missing tax clause led to Singapore absence on ARFP SOU

The lack of a commitment toward addressing unequal tax treatment. This was why Singapore was surprisingly absent from last Friday’s signing of a statement of understanding (SOU) on the Asian Fund Regions Passport (ARFP) scheme. “The [statement] does not address the issue and does not provide any commitments to addressing the impediment of unequal tax treatment,” the Monetary Authority of Singapore (MAS) said…

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